Bank Indonesia (BI) and the Ministry of Foreign Affairs (Kemlu) of Indonesia are strengthening their international economic diplomacy cooperation to enhance institutional collaboration through coordination and synergy in managing international relations to advocate for Indonesia's interests globally. "This memorandum of understanding reflects the coordinated and synergistic efforts of both institutions to enhance Indonesia's role and strengthen its position internationally," stated BI Governor Perry Warjiyo on Tuesday, May 28, 2024. The agreement was marked by the signing of a memorandum of understanding between BI Governor Perry Warjiyo and Indonesian Foreign Minister Retno LP Marsudi on May 15, 2024, effective until May 15, 2029. According to Governor Perry, this collaboration makes economic diplomacy more effective in maintaining national interests and promoting a positive perception of Indonesia's economy at the international level.
The areas of cooperation focus on three main aspects. The first aspect is managing Indonesia's positive perception and jointly promoting investment and trade to support the national economy and enhance understanding of Indonesia's policies. The second aspect involves formulating Indonesia's position and implementing international relations to support and enhance Indonesia's role at bilateral, regional, and multilateral levels. "The third aspect relates to supporting national economic interests internationally, including cooperation to promote the use of local currencies in transactions, expanding payment system connectivity, and developing Islamic economics and finance," explained BI Governor Perry.
